Had 1099 2014, 2015 on 1040 as misc. income. In 2016 I am depreciating equipment on sch. C. Can I start depreciation as 3rd year or do I need to amend 14 and 15 returns.

zephdog · ‎June 4, 2019

We will have same 1099 income in 2017, and I want to have the deduction finished prior to end of contract.

Do I need to file amendment to 2015 prior to finishing 2016 on Oct 15?

Equipment is software, video, computer for husband.

TomYoung · ‎June 4, 2019

I assume that your reference to "misc. income" means that the income was shown on your Form 1040's for 2014 and 2015 on line 21 - "Other income". I also assume that the equipment you are referring to was placed in service in 2014.

If those assumptions are correct then, yes, you need to amend the 2014 and 2015 income tax returns to show the income on Schedule C and to start the depreciation of the equipment in 2014.

Tom Young

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TomYoung · ‎June 4, 2019

I assume that your reference to "misc. income" means that the income was shown on your Form 1040's for 2014 and 2015 on line 21 - "Other income". I also assume that the equipment you are referring to was placed in service in 2014.

If those assumptions are correct then, yes, you need to amend the 2014 and 2015 income tax returns to show the income on Schedule C and to start the depreciation of the equipment in 2014.

Tom Young

Had 1099 2014, 2015 on 1040 as misc. income. In 2016 I am depreciating equipment on sch. C. Can I start depreciation as 3rd year or do I need to amend 14 and 15 returns.